Plexus (NASDAQ:PLXS) Upgraded to Strong-Buy at Wall Street Zen

Plexus (NASDAQ:PLXS - Get Free Report) was upgraded by equities researchers at Wall Street Zen from a "buy" rating to a "strong-buy" rating in a note issued to investors on Monday.

Other analysts have also issued research reports about the company. Needham & Company LLC reaffirmed a "buy" rating and issued a $162.00 price target (down previously from $172.00) on shares of Plexus in a research note on Friday, April 25th. Benchmark reaffirmed a "buy" rating and issued a $160.00 target price on shares of Plexus in a research report on Wednesday, June 4th. Finally, Stifel Nicolaus set a $145.00 price target on shares of Plexus in a research note on Thursday, April 24th. Two research analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $155.67.

Plexus Trading Down 0.5%

NASDAQ:PLXS opened at $135.53 on Monday. The firm has a market capitalization of $3.67 billion, a P/E ratio of 26.37 and a beta of 0.81. The company has a quick ratio of 0.71, a current ratio of 1.53 and a debt-to-equity ratio of 0.07. The company has a fifty day moving average of $130.25 and a 200 day moving average of $136.92. Plexus has a 52 week low of $101.64 and a 52 week high of $172.89.

Plexus (NASDAQ:PLXS - Get Free Report) last posted its earnings results on Wednesday, April 23rd. The technology company reported $1.66 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.54 by $0.12. The company had revenue of $980.17 million for the quarter, compared to analysts' expectations of $980.07 million. Plexus had a return on equity of 11.17% and a net margin of 3.60%. Plexus's quarterly revenue was up 1.4% on a year-over-year basis. During the same period last year, the firm earned $0.94 earnings per share. On average, research analysts predict that Plexus will post 5.9 earnings per share for the current year.

Insiders Place Their Bets

In other news, CEO Todd P. Kelsey sold 1,500 shares of the stock in a transaction on Monday, June 2nd. The stock was sold at an average price of $129.87, for a total value of $194,805.00. Following the sale, the chief executive officer now directly owns 75,214 shares of the company's stock, valued at approximately $9,768,042.18. This represents a 1.96% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Michael J. Running sold 646 shares of the firm's stock in a transaction on Friday, May 30th. The shares were sold at an average price of $130.05, for a total value of $84,012.30. Following the transaction, the insider now owns 630 shares of the company's stock, valued at $81,931.50. The trade was a 50.63% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 12,032 shares of company stock worth $1,582,222. 1.76% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Plexus

A number of hedge funds have recently bought and sold shares of PLXS. Nomura Asset Management Co. Ltd. raised its holdings in Plexus by 45.5% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 320 shares of the technology company's stock worth $50,000 after buying an additional 100 shares during the last quarter. Xponance Inc. increased its position in shares of Plexus by 4.8% during the first quarter. Xponance Inc. now owns 2,315 shares of the technology company's stock valued at $297,000 after acquiring an additional 106 shares in the last quarter. Tocqueville Asset Management L.P. raised its holdings in Plexus by 1.8% in the 4th quarter. Tocqueville Asset Management L.P. now owns 5,907 shares of the technology company's stock worth $924,000 after acquiring an additional 107 shares during the last quarter. Inspire Investing LLC lifted its position in Plexus by 4.8% in the 1st quarter. Inspire Investing LLC now owns 2,682 shares of the technology company's stock valued at $344,000 after acquiring an additional 123 shares in the last quarter. Finally, Aquatic Capital Management LLC boosted its stake in Plexus by 134.0% during the 4th quarter. Aquatic Capital Management LLC now owns 234 shares of the technology company's stock valued at $37,000 after purchasing an additional 134 shares during the last quarter. Institutional investors own 94.45% of the company's stock.

About Plexus

Plexus Corp. provides electronic manufacturing services in the United States and internationally. It offers design, develop, supply chain, new product introduction, and manufacturing solutions, as well as sustaining services to companies in the healthcare/life sciences, industrial/commercial, aerospace/defense, and communications market sectors.

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